Search Results for: wall street

by Andrew Huszar (Former Federal Reserve employee) I can only say: I’m sorry, America. As a former Federal Reserve official, I was responsible for executing the centerpiece program of the Fed’s first plunge into the bond-buying experiment known as quantitative easing. The central bank continues to spin QE as a tool …

Ina Drew helped make bank for JP Morgan Chase as the firm’s chief investment officer — until a blunder on her part cost the company roughly $2 billion. Drew resigned as CIO on Monday, but that’s not to say she is stepping down with nothing to show. Despite being responsible …

A US newspaper has revealed that the FBI has been raiding the houses of anti-Wall Street protesters in Oregon and Washington in what the agency describes an “ongoing violent crime investigation.” The Oregonian newspaper reported that heavily-armed domestic terrorism units of the FBI have been raiding the homes of activists in Seattle …

The Treasury, apparently dissatisfied with the speed of indirect bank and/or Fed-inspired monetization of its exponentially rising debt-load at ever-cheaper costs of funds, decided in June 2011 to allow the Chinese, with their equally large bucket of USDs to bid directly for US Treasuries. As Reuters reports, China can now bypass Wall …

Sen. Elizabeth Warren (D-Mass.) This past weekend, the Department of Justice slapped a record fine on JPMorgan Chase for packaging and selling the mortgage-backed financial products that helped cause the financial meltdown. But Sen. Elizabeth Warren (D-Mass.) wants the administration to know that fines are not enough. On Wednesday, she called on …

Fraud caused the Great Depression and the current financial crisis, and the economy will never recover until fraud is prosecuted. Fraud is the business model adopted by the giant banks. See this. The Obama administration has made it official policy not to prosecute fraud. Indeed, the “watchdogs” in D.C. are so corrupt that they are as easily bribed as a policeman in a third …

If you’ve ever suspected politics is increasingly being run in the interests of big business, I have news: Jeffrey Sachs, a highly respected economist from Columbia University, agrees with you – at least in respect of the United States. In his book, The Price of Civilisation, he says the US economy …

For nearly three decades, corporations, banks, and the ultra-wealthy have reaped financial rewards from America’s bubble economy at the expense of working-class Americans. During this stretch, the majority of the gains from US productivity have been disproportionately distributed to the top income earners. Over the years, these inequities have accumulated …

No one knows where it came from, or what it was meant to do, but 4% of all trading in the U.S. stock market last week was executed by one algorithm, CNBC reports. Nanex, a market data firm, told CNBC that the algorithm was placing orders once every 25 milliseconds and then canceling …

From the Mail: A bank clerk who dreamed of becoming a model stole £46,000 from the tills — and spent it on plastic surgery and shopping sprees. Rachael Claire Martin, 24, used the cash to fund a boob job, dental work and liposuction, as well as hair extensions and nights …

Does the Federal Reserve benefit the nation, or just the banks? Cui bono–to whose benefit?–is a skeptic’s scalpel that cuts through the fat of propaganda and political expediency to the hard truth. Since the world has been trained (in Pavlovian fashion) to hang on every word issued by America’s privately owned …

Congressman Dennis Kucinich (D-OH) today released the following video and statement in support of H.R. 459 which would finally allow the Government Accountability Office to audit the Federal Reserve Bank (the Fed). Congressman Kucinich has long supported auditing the Fed and successfully won a partial audit in the Dodd-Frank Wall …

While Wall Street cheers the actions by the Fed to further enlarge its already bloated Balance Sheet, those of us who live on Main Street should get accustomed to further increases in our food and energy costs. What I find rather perverse, is the statement by the FOMC that “longer …

JPM’s $150 Billion FDIC Reality Adjustment Reuters published an exclusive story this morning: U.S. banks told to make secret plans for preventing collapse Buried in the final paragraph: In a presentation in March, JPMorgan Chase said it had a recovery plan in place and said it was ordered by regulators. …

The prevalence of computer-generated trading in the modern sharemarket has created an unpredictable, and sometimes dangerous, environment for investors. Robots don’t have to take over the world when they’ve got sharemarkets in their clutches already. Unlike a mere mortal trading, there isn’t even a broker between machine and, well, machine. …

A 16-year-old high school student’s video report for his American Government class earned him an A+ from his teacher. It also yielded a visit from the FBI. Justin Hallman says that a project he put together for school that included information on the National Defense Authorization Act, Rep. Ron Paul, Anonymous and …

How the GOP presidential candidate and his private equity firm staged an epic wealth grab, destroyed jobs – and stuck others with the bill. The great criticism of Mitt Romney, from both sides of the aisle, has always been that he doesn’t stand for anything. He’s a flip-flopper, they say, …

Part 1 “All the world is made of faith, and trust, and pixie dust.” ― J.M. Barrie – Peter Pan “The issue which has swept down the centuries and which will have to be fought sooner or later is the people versus the banks.” – Lord Acton Who do you trust? Do …

AltInvestors has released an EXPLOSIVE interview with GATA’s Bill Murphy. Murphy has previously stated several of his best sources have advised him gold and silver will make massive bull moves in August, and will soon set new all-time highs. Murphy went a step further today stating that ‘JP Morgan and their silver …

Priorities are a bitch. The United States won’t prosecute Corzine for raiding segregated customer accounts, but will happily convene a Grand Jury in preparation for prosecuting Julian Assange for exposing the truth about war crimes. From the New York Times: A criminal investigation into the collapse of the brokerage firm MF Global and the disappearance of …